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By Masudul Alam Choudhury

A research of ethico-economic theorizing on socio-economic improvement, this booklet examines seriously the perspectives at present held through theoreticians' complete idea of the realm view in improvement thought, then reconsiders a variety of international concerns, either in theoretical and utilized perspectives.

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The axiom of economic rationality, the assumptions of perfect competition, the price The Concept of the World View 17 flexibility of the classical macroeconomic system, the concept of labour theory of value, and the Marxist notion of economic surplus were not the foundations of Keynes' thought. ]2 Keynes, for the first time, looked at the theoretical rationale for institutional role and policy impact in the economic system. At the same time, he did not abandon the primal role of markets within which all institutional and policy forces have to work in accordance with theoretical principles.

In the perspective of the ethical world-view orientation of comparative development, which makes it a scientific study, we can now clearly define the field of comparative development study: it may be seen as an ethico-economic study of economy and society through the interface of multiple factors impinging upon sustainable development. But these multiple factors are analysable either by pure critical reason or by empirical reasoning. In either case, this leads to the determination of cause and effect between global ethical values, the market system, and the polity.

34 The problems and issues of comparative development can be studied, analysed and alternatives provided in comparison with this kind of a system. In this, we cannot be totally comfortable with any of the classical, neo-classical, Marxist and Keynesian schools. In other words, the existing literature of comparative development suffers from pluralistic treatment, precisely because of the study of problems of socio-economic development in the framework of these differing paradigms. Variations consequently in theory, policy and institutional The Concept of the World View 19 frameworks have continued to transmit their pluralism to the study of comparative development problems.

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